Singapore -LRB- CNN -RRB- -- Singapore 's presidential candidates may all share the same name -- the common Chinese surname of Tan -- but with four candidates now officially in the race , this presidential election is the most contested in Singapore 's history .

Singapore is a nation that 's been ruled by one party since its independence in 1965 . But the recent general election showed a growing interest by Singaporeans in politics and some point to a growing willingness of Singaporeans to speak out .

According to presidential candidate Tan Jee Say , `` People are more open now in expressing their views against the government . In the past they were a bit apprehensive about being open . But now I think the election showed they are prepared to share their anger '' he said , over the government 's economic policies . He said the Internet , and movements in other countries like the `` Arab spring '' has had an effect on Singaporeans too .

While all candidates are officially non partisan , Tan Jee Say stands out as the most opposition candidate , having run in the recent general election with the Singapore Democratic Party .

Another candidate Tony Tan has the closest links to the ruling party PAP and has been endorsed by Singapore 's Prime Minister Lee Hsien Loong .

While Singapore 's presidency is a largely ceremonial role , the job has several important functions including the power to veto key government positions and to tap the government 's financial reserves . The latter role came into the spotlight in early 2009 when current President SR Nathan gave approval for the government to draw S$ 4.9 billion -LRB- $ 4.1 billion USD -RRB- to combat the global downturn .

Singapore 's president also commands an eye popping salary -- now more than S$ 4 million -LRB- Singapore dollars -RRB- or $ 3.3 million USD . Singapore 's top officials all draw some of the highest government salaries in the world , attributed by the government as a draw for top talent and considered by some a strategy to keep out corruption .

The four candidates are Tan Kin Lian , a former executive of insurer NTUC Income , Tan Cheng Bock , a medical doctor , former member of Parliament and former chairman of a marine transport company , Tony Tan , a former deputy prime minister , a former defense minister and deputy chair of the government 's sovereign investment fund , and Tan Jee Say , an investment adviser and former senior civil servant .

Singapore 's Presidential election is scheduled for August 27 .

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NEW : Singapore 's presidential election is August 27

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The presidential election is the most contested in Singapore 's history

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The president can veto key government positions and tap the government 's financial reserves

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The highly paid president makes millions each year